Traditional Project Management (Waterfall) Initiating Planning Executing Monitoring and controlling Closing Initiating ® Define the project © Develop the initial scope © Estimate the cost © Plan resources © Identify project stakeholdersPlanning e@ What are we going to do? @ How are we going to do it? @ How will we know when we're done? Executing © Launch the project © Acquire project team © Develop and manage project team © Explain project guidelines e Executes the planMonitoring and Controlling e@ Report performance e Control schedule Closing © Ensure project acceptance e@ Document performance © Gather lessons learned ® Close contracts © Release resources